adminMasvingo on housing
Masvingo BureauThe cash-strapped Masvingo municipality is considering temporarily freezing development of new residential areas until the completion of water works. The country’s oldest town has a housing backlog of
Govt allays mine grab fears
IN a move welcomed by mining conglomerates, a Zimbabwean delegation attending the ongoing Africa Mining Congress has allayed any fears of mine grabs by the Government.
Permanent Secretary for Mines and Mining Development Mr Prince Mupazviriho told the world’s mining
Overcharging refuted
Herald ReporterEconet Wireless and Telecel, two of the country’s three mobile phone service providers, yesterday refuted claims they are overcharging customers. Representatives of the companies appeared
Zimplats reviews power usage
Platinum miner Zimplats is reviewing its power usage model as part of cost-cutting measures aimed at maintaining viability. The cost of power, which is reported to have increased by at least 60 percent
New Egyptian govt promises to strengthen bilateral co-operation
Takunda Maodza Senior ReporterTHE new Egyptian government led by President Mohammed Morsi has pledged to strengthen bilateral co-operation with Zimbabwe. The indications are that Harare and Cairo will soon hold a joint commission
Emcoz warns of more layoffs
Bright Madera Senior Business Reporter
THE Employers’ Confederation of Zimbabwe has warned of increasing retrenchments across all sectors of the economy as companies hedge against increasing labour costs. An increase in retrenchments would
Electoral Amendment Bill passed
Herald ReporterTHE House of Assembly on Tuesday passed the Electoral Amendment Bill and it now awaits debate in the Senate. The Bill was read for the second time last week and was forwarded to the Parliamentary Legal
Cotton deliveries improve
Martin Kadzere Senior Business Reporter
FARMERS have delivered close to 110 million kg of cotton as of Friday last week, the Cotton Ginners’ Association said yesterday. Although the selling season started late, after farmers and buyers failed to
Banks likely to be caught in liquidity crunch
Business ReporterBANKS are likely to be caught in a liquidity trap due to the increasing rate of non-performing loans despite tightening liquidity challenges and limited fresh capital. Finance Minister Tendai Biti yesterday
Banking woes worry RBZ
Golden Sibanda in Nyanga
THE Reserve Bank of Zimbabwe has said it is concerned at the emergence of a number of banking sector problems similar to the ones that caused the 2004-2005 financial crisis.